Critical and chronic care products are the branch of medicine concerned with the diagnosis and management of life-threatening conditions requiring sophisticated organ support and invasive monitoring whereas chronic care products refers to medical care products which addresses pre-existing or long term illness, as opposed to acute care which is concerned with diagnosis and treatment of short term or severe illness of brief duration. 

As per Robert Wood Johnson Foundation, 2004, the need for better management of chronic conditions is urgent. About 141 million people in the United States were living with one or more chronic conditions in 2010, and this number is projected to increase to 171 million by 2030, when almost every other American will be living with one or more chronic conditions. Unless these chronic conditions are managed effectively and efficiently, the implications of these numbers for morbidity and mortality, workplace productivity, and health care costs in the coming decades will be staggering. For example, one estimate projects that by 2034, the number of people with diabetes will double to 42 million and the related health care spending will triple to $336 billion. Similarly, the American Heart Association projects that by 2030, 40 percent of the U.S. population will have some form of cardiovascular disease and the related health care costs will triple from the current $273 billion to $818 billion. Productivity losses associated with chronic diseases are projected to triple to $3.4 trillion from the current $1.1 trillion.

The critical and chronic care products market is expected to witness a steady growth during the forecast period. The growth of overall health care sector during the forecast period is expected to influence the growth of global critical and chronic care products market. Besides this, the major driving factors for global critical and chronic care products market are population aging and an increase in rate of chronic diseases. Moreover, increase in number of health care facilities across the globe is expected to fuel the growth of global critical and chronic care products. Also, Increase in lifestyle influenced diseases such as coronary heart diseases, along with the growing affluence has resulted in a steady growth in demand for critical and chronic care products. On the flip side, the high cost of these critical and chronic care products can act as an impediment to the growth of global critical and chronic care products market.

The critical and chronic care products market can be segmented by treatment, by devices, by temperature management, by vascular access, by patient care, by blood testing devices, by end-user and by geography. In the terms of treatment, the Critical and chronic care products are classified into surgical, medical, pediatric, psychiatric, burn care, trauma care, myocardial infarction, other intensive care treatment. The trauma care and myocardial infarction comprises the largest market share of the total critical and chronic care products market. Based on the devices, the market is segmented into anesthesia airway: endotracheal tubes, intubation accessories, mechanical ventilation; drainage systems: chest drainage catheters, external ventricular drainage catheters, thoracic kits, wound drainage system; infusion systems: I.V. disposables, syringe infusion pump software, syringe infusion pump systems, large volume I.V. administration sets, volumetric pump accessories; patient monitoring: respiratory monitors, hemodynamic monitors, neuro monitors, cardiac monitors, fetal and neonatal monitors, multi-parameter monitors; pressure monitoring: pressure infusors, pressure monitoring accessories and components, pressure transducer systems; ventilators: non-invasive ventilators and invasive ventilator.

Based on temperature management, the critical and chronic care products market is classified into blood & fluid warming systems, convective warming systems, hyperthermia and hypothermia management devices. Based on vascular access, the market is segmented into, implantable ports and peripheral intra-venous catheters. Similarly based on patient care, market can be segmented as, Level0: normal wound care, Level1: patients with deteriorating conditions who need additional care, Level2: patients with single failing organ system or post- operative care and Level3: patients requiring additional advanced support systems. Based on end-user, the critical and chronic care products can be segmented as, hospitals, ambulatory surgical centers/clinics and rehabilitation centers.

Geographically, North America occupies the largest market share followed by other developed region like Europe. The United States accounts for a major share of the global market. The high awareness level in this region led the market of critical and chronic care products for expansion significantly. However, the same factor of affordability has restrained the markets in developing regions. Despite of this, Asia Pacific has shown striking increase in its growth rate for the critical and chronic care products market. Rising population, increase in disposable income, and increase in awareness level are some key factors driving the Asia Pacific Market. Due to this factors, the Asian market is observing high number of new entrants compared to those in developed regions.

The Major players reported in the market include Abbott Laboratories, Piramal, Mylan, Convatec, Novartis, GE Healthcare, Abbott, Plunkett’s Health Care, Sproxil, Safaricom, Dexcom, Walgreens and Baxter International, Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Critical Chronic Care Products Market

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